Few firms allocating money to EU emissions trading scheme

Independent researchers have found that 36% of European firms have set a budget to comply with the EU’s trading scheme for greenhouse gases. Only 51% think they will be ready on time.

An independent study has found that only 36 per cent of
European companies affected by the Kyoto protocol's emissions
trading scheme have actually planned a budget to comply with the
EU's greenhouse gases (GHG) reduction targets.

The survey, which was carried out by research firm Coleman
Parkes for consulting group LogicaCMG, polled 250 senior executives
in the UK, Germany, the Netherlands, Belgium, France, Italy and

Results showed that nearly half of all European companies are
not sufficiently prepared for Emissions Trading Scheme compliance
coming into effect on 1 January 2005. "Only 34% of automotive
companies, 35% of pulp/paper companies, 42% of iron/steel companies
and 49% of cement companies expect to be ready in time for the
start of the scheme on 1 January 2005," the conclusions read.

Almost all of the senior executives (91 per cent) said their
firms were taking some action, but most took the form of impact
assessments on how the scheme would affect their profit margins.
Two-thirds said they had allocated staff to manage emissions
trading regulatory issues.

More surprisingly, a relatively high proportion of those
surveyed (20 per cent) said they were unsure about whether they
should be buyers or sellers on the carbon market put in place under
the emissions trading system.

The survey comes out a few weeks after commissioner Wallström
expressed disapointment at the fact that only twelve Member States
had sent their National Allocation Plans (NAP) for approval



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